Agios Pharmaceuticals (NASDAQ:AGIO) Price Target Raised to $34.00

Agios Pharmaceuticals (NASDAQ:AGIO) had its price objective raised by Bank of America from $32.00 to $34.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other analysts also recently commented on AGIO. Royal Bank Of Canada downgraded Agios Pharmaceuticals from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $57.00 to $28.00 in a research note on Wednesday, November 19th. The Goldman Sachs Group decreased their price target on Agios Pharmaceuticals from $40.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. HC Wainwright lowered their price objective on Agios Pharmaceuticals from $56.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Truist Financial set a $32.00 target price on shares of Agios Pharmaceuticals in a report on Monday, November 24th. Finally, Leerink Partnrs upgraded shares of Agios Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.89.

Agios Pharmaceuticals Stock Down 3.9%

Shares of NASDAQ AGIO opened at $28.02 on Wednesday. The business’s 50 day moving average price is $33.74 and its 200 day moving average price is $36.22. The firm has a market cap of $1.63 billion, a P/E ratio of -4.00 and a beta of 0.87. Agios Pharmaceuticals has a 52 week low of $22.24 and a 52 week high of $46.00.

Agios Pharmaceuticals (NASDAQ:AGIO) last issued its earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.93) by $0.15. Agios Pharmaceuticals had a negative net margin of 895.86% and a negative return on equity of 28.35%. The firm had revenue of $12.88 million during the quarter, compared to analysts’ expectations of $10.49 million. During the same quarter last year, the company posted $16.22 earnings per share. The firm’s revenue was up 43.3% compared to the same quarter last year. As a group, research analysts expect that Agios Pharmaceuticals will post -6.85 earnings per share for the current year.

Insider Buying and Selling at Agios Pharmaceuticals

In other news, insider Sarah Gheuens sold 3,302 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $43.92, for a total transaction of $145,023.84. Following the transaction, the insider owned 61,727 shares in the company, valued at $2,711,049.84. This trade represents a 5.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 3,902 shares of company stock worth $170,754. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Agios Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning lifted its position in shares of Agios Pharmaceuticals by 2.2% during the third quarter. Creative Planning now owns 13,119 shares of the biopharmaceutical company’s stock worth $527,000 after purchasing an additional 280 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Agios Pharmaceuticals by 16.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,237 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 320 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Agios Pharmaceuticals by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 132,083 shares of the biopharmaceutical company’s stock worth $4,393,000 after buying an additional 512 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Agios Pharmaceuticals by 0.3% during the 2nd quarter. Nordea Investment Management AB now owns 224,746 shares of the biopharmaceutical company’s stock worth $7,520,000 after buying an additional 573 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Agios Pharmaceuticals by 1.2% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 55,284 shares of the biopharmaceutical company’s stock valued at $1,839,000 after buying an additional 633 shares during the period.

About Agios Pharmaceuticals

Agios Pharmaceuticals, Inc is a biopharmaceutical company founded in 2008 as a spin-out from research at Dana-Farber Cancer Institute and the Broad Institute. Headquartered in Cambridge, Massachusetts, Agios focuses on understanding and targeting cellular metabolism to develop novel therapies for cancer and rare genetic diseases. The company’s scientific platform integrates genomic discovery, metabolic profiling and precision medicine approaches to identify and advance small-molecule candidates that correct or exploit metabolic dysfunction.

Agios’s lead products are IDH (isocitrate dehydrogenase) inhibitors that target specific cancer mutations.